New Podcast!

[Non Sequitur]

The Appraisal Regulation Compliance Council's inaugural podcast launches tonight! Check out the teaser and subscribe!

"In the upcoming hashtag#ARCC hashtag#podcast, we detail the importance of a well-managed collateral risk system, with Mark Calabria, former head of FHFA, and our first guest speaker. The conversation touched on Mark's recent reaction on X to FHFA’s decision to allow appraisal waivers to go up to 90% and property data collectors to go up to 97% LTV. Josh Tucker, ARCC Chair, initiated the discussion and sought Mark's thoughts on the process and his opinion of Fannie and Freddie's AVM models.

"if we're going to make decisions today that are going to change the face of the mortgage industry for years to come and really fundamentally decide whether there is an appraisal industry or not I think it's got to be an open process. There's got to be an opportunity for comment. There's got to be an opportunity for public input." Mark Calabria"

 

[TerryRohrer]

That is one hell of an opening! Good work!

 

[Non Sequitur]

It’s here!

 

[Ms. Janet]

To actually hear the past Director come out and say what the GSEs think about Appraisers was a shock to me. I don’t know why, but it was

 

[Non Sequitur]

To actually hear the past Director come out and say what the GSEs think about Appraisers was a shock to me. I don’t know why, but it was

Yeah, appraisers/appraisals are "friction' and they are working to remove the friction to gain market share.

 

[George Hatch]

Same as any other lending entity. Production vs diligence

 

[Non Sequitur]

Same as any other lending entity. Production vs diligence

Yep, another conspiracy theory confirmed. Hopefully appraisers listen because it's important to hear this from someone who has been in the seat as opposed to the peanut gallery.

 

[Ms. Janet]

Yep, another conspiracy theory confirmed. Hopefully appraisers listen because it's important to hear this from someone who has been in the seat as opposed to the peanut gallery.

I hope so too

 

[George Hatch]

Yep, another conspiracy theory confirmed. Hopefully appraisers listen because it's important to hear this from someone who has been in the seat as opposed to the peanut gallery.

It's hardly a conspiracy. Appraisals have basically been imposed on the lenders against their will. AT MOST they're considered a necessary evil. There's always friction between the two functions, the difference being that production brings the revenues in while diligence is intended to prevent the loss of those revenues.

It is beyond dispute that if they can do the same thing for less then they will. If they can do the same thing without appraisals at all then they will. The only point of dispute is exactly what that "same thing" actually consists of.

 

[jay trotta]

Throwing away the "Checks & Balances" are the way to go today....what could go wrong, as long as they get their "market share up"